Punjab Government Introduces Rs 1.54 Lakh Crore Budget

The Punjab government on Friday displayed a Rs 1.54 lakh crore budget plan for monetary year 2020-21 in the state get together. Exhibiting the financial limit, Punjab Finance Minister Manpreet Singh Badal declared obligation waiver to landless ranch workers and included that a total of Rs 520 crore has been saved for the equivalent.

The monetary allowance additionally reserved Rs 13,092 crore for the instruction segment and Rs 4,675 crore for the wellbeing segment. He further declared six percent dearness recompense to the state government workers from March this year and said the government will execute the sixth Pay Commission proposals in 2020-21.

Badal further said 'mandi expense' — the charge demanded on the deal and acquisition of agribusiness produce — on leafy foods will be decreased from four percent to one percent. The priest additionally reported to postpone Change of Land Use (CLU) charges for a long time. In the spending limit, Badal proposed income receipts of Rs 88,004 crore and income use of Rs 95,716 crore for financial year 2020-21.

He further said the income deficiency for money related year 2020-21 will be Rs 7,712 crore and the monetary shortfall will be Rs 18,828 crore separately. "Enlivened of the overwhelming difficulties before us, we have had the option to keep up the monetary shortfall at 2.61 percent in 2017-18 and 3.08 percent in 2018-19 as against the spending evaluations of 4.96 percent and 3.81 percent for separate years," Badal said.

He likewise anticipated exceptional obligation of Rs 2,48,236 crore for 2020-21 as against 2019-20 modified evaluations of Rs 2,28,906 crore. Badal said that the state government proposes to set up two farming schools at Gurdaspur and Balachaur.